Project Critical Success Factors

The 8 Key Factors are:
1.Business Case – I agree that building a strong business case to be communicated and shared with the Project stakeholders/sponsors and Team members is of extreme importance. This is a task with extreme strategic value, as it will be linked to motivation for the entire team. When the team members know that the project is based on a solid business case, it serves to justify the utility and value of the project for the sponsors and the organization. Having project based on a strong business case will help to identify objectives, milestones and performance measurement tools that will serve as benchmarks along the project lifetime. It will also help identify concrete CSF.

2.Critical Success Factors –

CSF’s are a natural 2nd step derived from the Business Case. Once we know WHY the project is being done CSF can be identified to in order to set the main “values” that the project will need to meet in order to be considered “successful.” At the very least, the CSF will identify those objectives which are KEY, or minimum requirements, for the project. For example, if our project was the implementation of a new software tool within the organization, i.e. Expense Point, which streamlines and standardizes the company’s expense reporting of all its sales staff. Then, the business case might include all the planned benefits (financial and otherwise, such as cost reduction, process standardization, ease of use as reported by users, better reporting functionalities, reduced processing time, etc) from the implementation and use of this new software. The CSF, then might be the following: -successful IT implementation by YY/MM/DD

-successful training of all sales staff - proven reduction in processing times (from 10 business days to 5 business days) -Employee satisfaction upon use (measured via a survey delivered to users) -Reduction in processing costs (as measured by cost analysis) -Increased reporting functions (measured by added and...

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for International Projects
MASTER COURSE – “International business development“
International Project Management
Faculty of economics, Nis, Serbia
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Marko Jeremic
E-Mail: marko.jeremic@gmail.com
International Development Project environment is far more complex than domestic projects in industrialized countries. The World Bank Group's data and other evidence suggest high incidents of challenged international development projects. There are many internal and external, visible and invisible factors that influence the environment and create a high amount of risk in accomplishing the project objectives. This essay elaborates a conceptual framework for international development project management and the characteristics of international development projects, which should be taken into consideration during the project initiation and project planning phases in order to enhance projectsuccess. The international development project environment poses special problems for the project managers due to inherent characteristics. The World Bank Group's data (World Bank, 1999) and other evidence suggest high incidents of challenged international development...

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1
abhassan@usm.my and 2aidah0622@yahoo.com
ABSTRACT
Housing is the critical issue in global urbanization which have a tremendous impact on the
environment – both during construction and through out their. As the key element in urban
development, housing plays a vital role in attaining the goal of sustainable development.
Effective of project management is becoming increasingly important for sustainable housing
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activity [1]. It is highly important for the organizations to
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developments of new business methods and technologies [2].
Thus, construction companies have to adopt these applications
and develop appropriate strategies to be more competitive in
this industry and get success in their businesses.
There are many definitions of success. Traditionally, it is
defined as the degree to which goals and expectations are met.
On the other hand, one of the definitions of failure is the
inability of a firm to pay its obligations when they are due [3].
In recent years, there has been an increase in the studies of
criticalsuccess/failure factors especially in project
management subject [4]. The traditional approach to success
in the construction industry is to focus on the ability to plan
and execute projects [5]. Traditionally, the success parameters
for projects in this industry are cost, time and quality.
However, due to the changing business environment it is
crucial to focus on corporate success in order to be
competitive in this environment.
Some of the...

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Ã¢â‚¬Â¢ Business Background
OTIS is a subsidiary of United Technologies Corporation and is in the business of Elevator Sales, Service and Maintenance. Higher margins can be attained in Service and Maintenance and maintaining Customer Relationship is the key to get a foothold in this area.
Ã¢â‚¬Â¢ Industry Analysis
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Threat of Competition
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Threat of Suppliers
Raw Materials used to manufacture Elevators and cables can be readily obtained from multiple Suppliers. Threat of Suppliers may be regarded as Low.
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Threat of Substitutes
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Power of Customers
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Ã¢â‚¬Â¢ CriticalSuccessFactors
o...

...STUDY: criticalsuccessfactors and performance indicators for a services company Financial
SuccessFactor Improved cash flow Suggested PI %of those paying cash up front %of new projects where payment up front received Timing of billing on milestones e.g. if 5 days late result would be + 5 days etc. %of customer balance to fees No. of projects with all progress payments paid Costs of lost bids vs. costs of won bids %of successful bids %of successful bids a project group gets Number of customers who increase consulting by xx% per quarter Sales by manager
Costs Measure success of bids
Managing the risk of customer’s Number of regular risk management reviews prepared on time project as a whole Bad debt % to turnover Evaluate political risk of Number of overseas clients/jobs where risk review was not overseas clients/jobs undertaken Tracking of loss leaders Number of winning contracts which have created losses Maximum % of overall revenue Actual time spent as % of budget $ spent as a % of budget Improved profitability Profitability of service area vs. profitability of jobs Total hours non billable pre contract Evaluation performed on prospective clients Budgeted time against actual time on weekly basis %of profitability per project %chargeable work/non recoverable Collection ratio against progress payments %complete to...